Former trade deputy to spearhead U.S. investment body SEOUL, June 17 (AJP) - Former Deputy Minister for Trade Park Jong-won has been named the inaugural head of the Korea-U.S. Strategic Investment Corporation, a day before the Special Act for Korea-U.S. Strategic Investment Management takes effect to launch the state-backed body tasked with overseeing South Korea’s $350 billion investment commitment to the United States. The Ministry of Economy and Finance and the preparatory committee for the new state entity announced the appoi June 17, 2026

BOK further builds up rate hike rationale, seeing inflation around 3% 2H SEOUL, June 17 (AJP) - South Korea's annual inflation rate is expected to run close to 3 percent for the first time in three years this year as the broad impact of the three-month Gulf crisis is likely to spill into the second half even if the conflict ends, the Bank of Korea (BOK) warned Wednesday, building the case for an interest rate hike as early as July. In a report on consumer prices released Wednesday, the central bank estimated headline inflation would hover around 3 p June 17, 2026

Lee pledges greater role in global development at G7 summit SEOUL, June 17 (AJP) - South Korean President Lee Jae Myung called for broader access to artificial intelligence (AI)-related technologies for developing countries during a session of the Group of Seven (G7) summit in France on Tuesday. He also urged a new model of international development cooperation that combines aid, private investment and technology-sharing. Speaking at the first expanded session of the summit in Évian-les-Bains, Lee said many developing countries remain June 17, 2026

Seoul expands draft evader data disclosure to mirror sex offender registries SEOUL, June 16 (AJP) - South Korea's Military Manpower Administration expanded the public disclosure of personal information for military draft evaders, applying measures similar to the country's sex offender registries to enforce conscription compliance. According to South Korean conscription laws, all able-bodied men must serve in the armed forces. Because of this universal mandate, draft evasion remains a highly sensitive social issue where those who dodge the draft fac June 16, 2026

Korea household debt ratio falls to 6-year low on high nominal GDP SEOUL, June 16 (AJP) - South Korea's household debt-to-gross domestic product ratio dropped to its lowest level in over six years at the end of last year, according to the Bank for International Settlements on Tuesday. While the financial industry attributes the decline to tighter lending rules, the shift was driven more by a surge in nominal economic growth than by a pure reduction in borrowing. Data by the Bank for International Settlements (BIS) showed that the ratio June 16, 2026

Lee invites Pope Leo XIV to Seoul in hopes for Vatican peace diplomacy SEOUL, June 16 (AJP) - South Korean President Lee Jae Myung on Monday invited Pope Leo XIV to visit Seoul for the 2027 World Youth Day gathering, raising hopes that the trip could become a stepping stone toward the first papal visit to North Korea as Seoul revives its push for peace on the Korean Peninsula. The invitation came during Lee's 30-minute one-on-one meeting with the pope at the Vatican, where the two leaders discussed dialogue, reconciliation and ways to improve rel June 16, 2026

Lee heads to France for G7 summit after meeting Pope at Vatican SEOUL, June 16 (AJP) - President Lee Jae Myung is now heading to Évian-les-Bains to attend the Group of Seven (G7) summit on Tuesday and Wednesday, after wrapping up his visit to the Vatican earlier in the week. South Korea has been invited to the summit as a partner country, making it Lee's second consecutive attendance at the summit of major economies following last year's gathering in Canada. The summit is expected to address a range of pressing global challenge June 16, 2026

Korea's import prices may have peaked out while chip exports power ahead SEOUL, June 16 (AJP) - South Korea's import prices may have peaked out after the Gulf war-driven oil shock eased in May, while soaring semiconductor prices continued to buttress the country's trade strength, central bank data showed Tuesday. The won-denominated import price index fell 0.3 percent in May from a month earlier, according to preliminary export-import price data released by the Bank of Korea. The decline followed a 2.1 percent drop in April after import prices June 16, 2026

Opposition hits post-election high as Lee's ratings continue to slide SEOUL, June 15 (AJP) - South Korea's main opposition gained further ground in the aftermath of the June 3 local elections, recording its strongest support since former President Yoon Suk Yeol's impeachment and President Lee Jae Myung's victory in the subsequent snap election. A Realmeter survey found support for the conservative People Power Party (PPP) rose for a third straight week to 44.3 percent, its highest level since Lee took office, widening its lead over the r June 15, 2026

South Korea, Cambodia seek to expand cooperation through FTA SEOUL, June 15 (AJP) - South Korea discussed ways to broaden economic and trade cooperation with Cambodia, the Ministry of Trade, Industry and Resources said on Monday. Trade Minister Yeo Han-koo met with Cambodian Deputy Prime Minister Sun Chanthol in Seoul and held talks on expanding bilateral economic cooperation and strengthening collaboration in future industries. The meeting was requested by Chanthol, who is in South Korea to attend an investment blitz slated to be held June 15, 2026